Remodel or rebuild? If you’re a homeowner stuck in an older home, you may be plagued by this question. With benefits to both options, how do you decide?
At Tallen Builders LLC, an Ocala and Central Florida general contractor, we’ve got the knowledge to help you make a decision. We’ve compiled some of the biggest factors in deciding whether or not to remodel or rebuild in one convenient place.
What’s Your Budget?
Likely, this is one of the biggest considerations before taking the plunge into a remodel or rebuild project. If you have a limited budget, remodeling is probably the way to go. You can spread out each stage of the remodel to align better with your financial capabilities, versus when you build a home and must put down a considerable amount all at once. Keep in mind though, if the majority of your house needs to be completely redone, it may be a better idea to rebuild from scratch. Keep your return on investment in mind: if the price of the remodel is going to greatly exceed the difference between the before and after price of your home, it’s not a cost effective option.
Location, Location, Location
If you love the neighborhood you’re already in, but there are no new lots for sale, a remodel is likely the way to go. You may also have an emotional attachment to your current home, and have enough money to make the necessary changes. On that same note, if there are available lots in your neighborhood and it looks like you’d have to make a drastic remodel, we suggest looking into the new lot. If you aren’t attached to your current location, building a new home could allow you to pick property in a low-tax community or in an area that is inexpensive now, but forecasted to increase in value.
Are The Changes Feasible?
Sometimes the structural changes you want to make during a remodel are so drastic that the labor, time and materials needed aren’t worth it. Demolition of structures within a home can sometimes take longer than a week, and if you have multiple large scale changes to make, it can add up to months before any new building can begin. Knocking down an entire home on the other hand only takes a matter of hours. Depending on when your house was built, there’s also a chance the plumbing and electrical throughout the house needs to be updated. This could mean tearing up much more of your house than you had planned for.
Quality of Life
Ultimately, this is probably the most important goal with any remodel or rebuild. Whichever choice you make, it may benefit you to spend the extra money to ensure your quality of life is up to your standards. Often times with a remodel or rebuild, homeowners give in to what they feel like they should do, rather than what they really want to do.
No matter what your choice, Tallen Builders, LLC can help. We’re the remodeling and home building experts in Central Florida, and we want to help you create your dream home. Have questions about starting a remodel or building a new home? Reach out to us on social or through our contact form!
— Tallen Builders (@TallenBuilders) August 28, 2014